Nobel Prize laureate

The Nobel Prizes (Swedish: Nobelpriset, Norwegian: Nobelprisen) are prizes awarded annually by the Royal Swedish Academy of Sciences, the Swedish Academy, the Karolinska Institutet, and the Norwegian Nobel Committee to individuals and organizations who make outstanding contributions in the fields of chemistry, physics, literature, peace, and physiology or medicine. They were established by the 1895 will of Alfred Nobel, which dictates that the awards should be administered by the Nobel Foundation. The Nobel Memorial Prize in Economic Sciences was established in 1968 by the Sveriges Riksbank, the central bank of Sweden, for contributions to the field of economics. Each recipient, or "laureate", receives a gold medal, a diploma, and a sum of money, which is decided by the Nobel Foundation, yearly.

Each prize is awarded by a separate committee; the Royal Swedish Academy of Sciences awards the Prizes in Physics, Chemistry, and Economics, the Karolinska Institute awards the Prize in Physiology or Medicine, and the Norwegian Nobel Committee awards the Prize in Peace. Each recipient receives a medal, a diploma and a monetary award that has varied throughout the years. In 1901, the recipients of the first Nobel Prizes were given 150,782 SEK, which is equal to 7,731,004 SEK in December 2007. In 2008, the laureates were awarded a prize amount of 10,000,000 SEK. The awards are presented in in an annual ceremony on December 10, the anniversary of Nobel's death.

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